Millennium Management LLC Sells 494,438 Shares of Chatham Lodging Trust (NYSE:CLDT)

Millennium Management LLC lessened its stake in shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) by 41.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 706,341 shares of the real estate investment trust's stock after selling 494,438 shares during the period. Millennium Management LLC owned about 1.44% of Chatham Lodging Trust worth $6,322,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Donald Smith & CO. Inc. increased its position in Chatham Lodging Trust by 30.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust's stock worth $40,254,000 after buying an additional 1,055,999 shares during the last quarter. JPMorgan Chase & Co. increased its position in Chatham Lodging Trust by 53.4% during the fourth quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust's stock worth $8,685,000 after buying an additional 337,842 shares during the last quarter. Bank of America Corp DE increased its position in Chatham Lodging Trust by 9.5% during the fourth quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust's stock worth $6,108,000 after buying an additional 58,943 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Chatham Lodging Trust during the fourth quarter worth approximately $5,738,000. Finally, Kennedy Capital Management LLC increased its position in Chatham Lodging Trust by 11.4% during the fourth quarter. Kennedy Capital Management LLC now owns 522,959 shares of the real estate investment trust's stock worth $4,680,000 after buying an additional 53,383 shares during the last quarter. Institutional investors own 88.37% of the company's stock.

Chatham Lodging Trust Price Performance

NYSE:CLDT traded down $0.05 during trading hours on Friday, reaching $7.13. 370,252 shares of the company were exchanged, compared to its average volume of 413,846. The company has a market capitalization of $349.26 million, a P/E ratio of -31.00 and a beta of 1.42. Chatham Lodging Trust has a 1-year low of $5.83 and a 1-year high of $10.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day moving average of $6.93 and a 200 day moving average of $8.08.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $68.64 million for the quarter, compared to the consensus estimate of $67.99 million. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. Research analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current year.

Chatham Lodging Trust announced that its board has authorized a stock repurchase program on Tuesday, May 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 7.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Chatham Lodging Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, March 31st. Chatham Lodging Trust's payout ratio is presently 600.00%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their target price on Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen downgraded Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th.

Chatham Lodging Trust Profile

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.